Currently, prices have yet to jump: the median sales price of all condos and co-ops traded during the quarter was $890,000, a 2.3 percent dip from the previous year, according to Miller Samuel.

Closings have been brisk, with Corcoran reporting 3,821 sales in the third quarter, a 17 percent year-over-year gain. Halstead Property and Brown Harris Stevens noted a 12 percent annual increase to 2,790 transactions, the highest number since the same period in 2008.

“Sales are happening across all price points in Manhattan,” Halstead president Diane Ramirez told Crain’s. “That is good news. It shows that there is confidence and belief in the market.”